244
=S=> BGB 490. 1 If there is or threatens to be a substantial deterioration in the financial circumstances of the borrower or in the value of a security given for the loan as a result of which the repayment of the loan is jeopardised even if the security is realised , the lender may give notice of termination of the loan agreement with immediate effect ; in case of doubt , extraordinary notice of termination is available before the loan is paid out , under all circumstances , but , after the loan has been paid out , only as a general rule .
=S=> BGB 490. 2 The borrower may give early notice of termination of a loan contract where for a specified period of time a fixed rate of interest is agreed and the loan is secured by a security right in land or a maritime lien , complying with the notice periods in section 489 ( 1 ) no . 2 , if his justified interests require this . There is such an interest in particular , without limitation , if the borrower has the need to otherwise realise the thing pledged to secure the loan . The borrower must compensate the lender for the damage incurred by the lender as a result of this early termination ( compensation for early termination ) .
=S=> BGB 490. 3 The provisions of sections 313 and 314 are unaffected .
|
